The government and the judiciary have found the servicers to have grossly violated the law in foreclosing on military while they were on active duty. It is a criminal offence but instead of punishing the servicers they are being allowed to get away with settlements. Into this vacuum New York A.G. has stepped in.

The realtor of Prudential America Sam Wagmeister made a study of those people who bought homes between 2004 and 2008 to find out who were still living in the same house and how many of these homes have been foreclosed upon.

The judicial states are being hauled up for foreclosure delays by one set of legislators while another set feels that it is not good to expedite the process. The squabble goes on in the House Committee without any solution emerging while the nation and its people reel.

With one skeleton after another tumbling out of the cupboard of Baum’s legal firm dealing with foreclosure it has been compelled to down shutters; Fannie and Freddie has taken away from it all assignments. The focus on these shoddy practices is good for all although the delay in processing will further tell on the housing market.

A bill has been introduced by two senators (Republican and Democrat) sending an open invitation to the rich overseas to buy residences in USA. They would have to pay a minimum amount in cash to make the full purchase. Tourist visas would be granted to them and not work visas. It is hoped that this would clear up the stockpile of properties languishing in the market.

Obama is using pressure tactics to make the rebel attorney generals come down from their stand and agree to the settlement deal with the banks. The recalcitrant attorney generals do not want a $20 billion settlement but a $200 billion one. But aside from the amount the people have a right to know what led to the foreclosure crisis.

Veterans are finding themselves in dire straits fighting a battle with foreclosures – a war they cannot win. Without jobs, weighed down by spiraling interests and step-motherly attitude of the banks they are falling back in life and living. Each veteran has the same tale to tell.

Many Americans (36 %) think that loan rates will increase in 2012. Rents are also apprehended to increase; and there are many Americans who feel that they would rent a home rather than pay for it. Around 77 % say that the economy is not proceeding on the right path. The financial situation, people say, will not improve.